Medco Energi Internasional, ID1000053705

BRI Danareksa raises target for Medco Energi Internasional stock to IDR 2,300

Published on 10/07/2026 at 10:20 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half net income rose 796.60 percent to USD 275.30 million. Medco Energi Internasional stock costs EUR 0.07 on October 7, 2026 after EUR 0.07.

Medco Energi Internasional, ID1000053705, Illustration mit AI erstellt.

Medco Energi Internasional stock (ISIN ID1000053705) was at EUR 0.07 at Lang & Schwarz on October 7, 2026 at 10:11 a.m. CEST, unchanged versus the prior close of EUR 0.07. On the same date, BRI Danareksa raised its target for the stock from IDR 2,200 to IDR 2,300 while maintaining a Buy rating, Investortrust reported on October 7, 2026.

Target rises with production outlook

The higher target reflects BRI Danareksa's forecast that MedcoEnergi's oil and gas production will reach 170 mboepd in 2026, 178 mboepd in 2027 and 179 mboepd in 2028. The broker also raised projected net income to USD 492 million for 2026, USD 634 million for 2027 and USD 672 million for 2028, with each forecast above its previous estimate, according to Investortrust on October 7, 2026.

The report places the stock at 5.20 times projected 2027 price to earnings, 28.00 percent below its five-year average. That comparison makes the target revision more significant than a simple change in the headline valuation.

First-half earnings reset the base

MedcoEnergi's audited first-half 2026 results provide the operating evidence behind the forecast. According to MedcoEnergi on September 21, 2026, revenue reached USD 1,415.00 million and EBITDA reached USD 805.00 million.

Net income attributable to owners of the parent entity reached USD 275.00 million in the first half, while oil and gas production reached 170 mboepd. The company's earnings presentation gives a more precise net income figure of USD 275.30 million, up 796.60 percent from USD 30.70 million in the first half of 2025, and production of 170.10 mboepd, up 19.00 percent year on year, MedcoEnergi reported on September 29, 2026.

Guidance leaves little room

Management reaffirmed 2026 oil and gas production guidance of 165-170 mboepd and set oil and gas capital expenditure guidance at USD 450-475 million. Cash production costs stood at USD 8.40 per barrel of oil equivalent in the first half, below the full-year ceiling of USD 10.00.

The principal execution test is whether new projects can sustain production at the upper end of guidance while the higher capital budget funds Sakakemang and other developments. MedcoEnergi said first gas at Sakakemang remains targeted for the third quarter of 2027, while its power segment delivered 2,322.90 GWh in the first half, up 16.50 percent year on year.

Trading stays flat in euros

On the Indonesia Stock Exchange, MEDC was last at IDR 1,455.00 on October 7, 2026 at 3:09 p.m. WIB, with the market status shown as closed. The 52-week range was IDR 1,005.00 to IDR 2,000.00, and market capitalization was IDR 35.9 trillion on the same date.

At Lang & Schwarz, the stock was trading at EUR 0.07 on October 7, 2026 at 10:11 a.m. CEST, unchanged at 0.00 percent versus the prior close of EUR 0.07. The further course of trading is shown by the continuously updated real-time quote of Medco Energi Internasional stock.